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US STOCKS-Futures dip on Trump policy uncertainty; data, earnings awaited
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US STOCKS-Futures dip on Trump policy uncertainty; data, earnings awaited
Jan 24, 2025 3:41 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Futures off: Dow 0.17%, S&P 500 0.20%, Nasdaq 0.21%

Jan 24 (Reuters) - U.S. stock index futures dipped on

Friday, as uncertainty about President Donald Trump's trade

policies prevailed, while investors also awaited data and

corporate earnings reports that could throw light on the state

of the economy.

At 5:47 a.m. ET, Dow E-minis were down 78 points,

or 0.17%, S&P 500 E-minis were down 12 points, or 0.20%

and Nasdaq 100 E-minis were down 46.5 points, or 0.21%.

Tariffs are high on investors' minds after Trump referred to

the policies multiple times at separate events this week but did

little to lay out entire details of the surcharges he plans to

impose on trade partners of the United States.

The president has said tariffs on Mexico, Canada, China and

the European Union could be announced on Feb. 1, but analysts

say major plans could be announced on April 1 - the date by when

federal agencies are expected to complete reviews of a range of

trade issues.

Investors are concerned that tariffs could spark a global

trade war, add to inflation pressures and slow the pace of

interest rate cuts by the Federal Reserve. The central bank is

expected to leave interest rates unchanged next week at its

first policy meeting of the year.

Later in the day, markets will assess a preliminary private

survey on manufacturing and services activity for January and

the University of Michigan's final estimate on consumer

sentiment.

In premarket trading, Boeing ( BA ) lost 1.7% after warning

that it expects a fourth-quarter loss of about $4 billion to

close a year marred by a production quality crisis, stricter

regulatory scrutiny, supply chain delays and a crippling strike

by West Coast factory workers. The airplane maker is expected to

report quarterly results on Tuesday.

The stock is up about 1% in January after logging its

biggest annual decline since the pandemic in 2024.

Quarterly earnings reports from Verizon, American

Express ( AXP ) and NextEra Energy are due before

markets open.

Investors were also taking a pause after the benchmark S&P

500 closed Thursday's session at a record high for the

second time in over a month after Trump called for taxes, oil

prices and interest rates to be lowered at the World Economic

Forum in Davos, Switzerland.

On a weekly basis, Wall Street's main indexes are set for

their second straight week of advances, with the blue-chip Dow

on track for its biggest weekly jump since October 2022,

aided by Trump's artificial intelligence investment plans, signs

of cooling inflation and robust earnings from big banks in the

previous week.

Among others, Texas Instruments ( TXN ) dropped 4.9% after

forecasting first-quarter profit below analysts' estimates, as

the analog chipmaker grapples with an inventory buildup in its

key automotive and industrial markets.

The following week will see quarterly reports from megacaps

such as Microsoft ( MSFT ), Meta, Apple ( AAPL ) and

Tesla. The companies' stocks were flat to marginally

higher.

U.S.-listed shares of Chinese companies such as JD.Com

rose 3.1%, Xpeng added 2.9% and Alibaba

climbed 1.1% after Trump suggested in an interview that tariffs

against China could be avoided.

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